Traditional IRA contributions can be tax deductible or partially tax deductible based on MAGI. In 2014, an individual with a MAGI of up to $70,000 is eligible for at least partial deductibility. There are no income limits on who can contribute to a traditional IRA.
When the water heater breaks / leaks whatever the pressure tank is going to loose pressure telling the pump to come on and the pump will run continually as it can not build pressure to shut it off.
Leaking Water Heater. If you experience a leaking water heater, it is recommended to turn off the water to your tank. Your water heater tank should have a dedicated shutoff valve on the cold inlet pipes. If this is a gate-style valve (a wheel that turns), turn the valve clockwise as far as you can.